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3 Hartwick Court Conroe, TX 77304

4 Beds 3 Baths 2,550 sqft Built 2001

$331,700

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $130.08
  • 6 Days on Market
  • MLS # : 70229472
  • Updated Date : 02/26/2021 at 08:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,550 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fairwater Westmont Real Estate

Listing Agent's Description

This charming 2 story home has the whole package. It is at the end of a quaint cul-de-sac with great neighbors! The home offers a unique and functional floor plan with master separate from the secondary bedrooms. Master suite boasts dual sinks, garden tub and separate shower. New wood-like tile throughout downstairs, with formal dining and a laundry room that doubles as a mud room. Ideally, a second laundry room is located upstairs. Unwind on the covered back porch in this expansive backyard with plenty of room for a pool, complete with many mature trees and a garden area already fenced off. High and dry, sprinkler system, new roof 2016, new paint 2020, full surround sound downstairs with prewire in the game room.

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Wedgewood North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $107k348k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Wedgewood North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8932420

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Giesinger Elementary School Primary Regular 509 32 7
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Giesinger Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 32
7
GreatSchools Rating

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$298,530$364,870$331,700

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,152
Property Tax -$645
Property Insurance -$174
HOA -$6
Property Management Fees -$99
CASH FLOW
$34

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$331,700

PROJECTED PRICE

$2,110

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,651

INVESTMENT

$93,651

Down Payment
$82,925
Rehab Estimate
$5,750
Closing Costs
$4,976

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,152

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,925
Loan Amount $248,775
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,477

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,110

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,289

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,2003$2,3004$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 3 Hartwick Court Conroe, TX 1
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.83
    •  
  • 1718 Wandering Hills Road Conroe, TX 2
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2018
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 3580 Falcon Way Conroe, TX 3
    • 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 2415 Branshill Drive Conroe, TX 4
    • 4 beds 4 baths ∙ 2,653 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,653 Sqft ∙ Built 2017
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
  • 206 Pleasant Hill Way Conroe, TX 5
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
Megan Stultz
1.936.537.2587
Fairwater Westmont Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 70229472
Last Updated: 02/26/2021
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